Reviews

NESCO LTD.

Ticker : 505355
FV: Rs.2
52-Week H/L : Rs.587.85/405



We had recommended Nesco Limited in volume no. 35, issue no. 38 (dated July 15, 2019), when the scrip was trading at Rs. 558.30. The company operates in two divisions: Bombay Exhibition Centre/realty division and engineering division. The company’s engineering products include forging hammers and presses, blowroom lines, etc. The stock was previously recommended due to better business performance and its amalgamation with Nesco Hospitality. In Q1FY20, the company’s revenue increased by 3.7 per cent to Rs. 78.26 crore from Rs. 75.46 crore in Q1FY19. The PBIDT for Q1FY20 stood at Rs. 48.72 crore, an increase of 3.93 per cent as compared to Rs.46.88 crore for Q1FY19. In Q1FY20, the net profit increased by 4.17 per cent to Rs. 37.83 crore as against Rs. 36.32 crore in Q1FY19. The company’s board of directors recommended a dividend of Rs 12 per share. Considering the above strong financials, we recommend a HOLD.